Tom Barrack
Tom Barrack | |
|---|---|
| Born | 1947 or 1948 (age 76–77)[1] |
| Alma mater | University of Southern California (BA) University of San Diego (JD) |
| Political party | Republican |
| Spouse | Rachelle Barrack |
| Children | 4 |
Thomas J. "Tom" Barrack Jr. (born 1947/1948) is an American private equity real estate investor and the founder, chairman and chief executive officer of Colony Capital, headquartered in Los Angeles, California.[2][3][4][5][6][7]
Early life
His grandparents immigrated to the United States from Lebanon.[8] He graduated with a BA in 1969 from the University of Southern California where he was a star on their national championship Rugby Team. Attended USC and University of San Diego receiving a JD in 1972 and he was an editor of the Law Review.[3][8][9]
Career
His first job was at the law firm of Herbert W. Kalmbach, President Richard Nixon's personal lawyer.[4] He then worked in Saudi Arabia for the Fluor Corporation.[4] He then learned Arabic and worked for Saudi princes. Shortly after, he helped open diplomatic relations between Saudi Arabia and Haiti, then ruled by Jean-Claude Duvalier, at the request of investor Lonnie Dunn.[4]
Barrack served as Deputy Undersecretary of the United States Department of the Interior under James G. Watt in the Reagan administration.[3][6]
Barrack was later a principal with the Robert M. Bass Group.[3][5][6] In 1990, he founded Colony Capital, and received initial investment from Bass and GE Capital, and later from Eli Broad, Merrill Lynch, and Koo Chen-fu.[4] He has invested some $200 million in Middle East real estate, $534 million in non-performing German real estate loans, and a $24 million loan to photographer Annie Leibovitz.[8] He also owns the Neverland Ranch.[8] Through Colony Capital, he runs a $25 billion portfolio of assets, from the Fairmont Raffles Hotels International hotel chain in Asia, the Aga Khan's former resort in Sardinia, Resorts International Holdings, One&Only Resorts, Atlantis, etc.[4]
Barrack is a Trustee at the University of Southern California.[10] He has also served on the Board of Directors of Accor, Kerner, First Republic Bank, Continental Airlines, Korea First Bank, and Megaworld Properties & Holdings.[6][11][12] Additionally, French president Nicolas Sarkozy awarded him France's Chevalier de la Légion d'honneur.[3]
As of September 2011, Barrack was the 833rd richest person in the world, and the 375th richest in the United States, with an estimated wealth of US$1.1. billion.[8] However, he was no longer a billionaire in 2014.[13]
Political activity
Barrack endorsed Donald Trump for President of the United States in 2016.[14] He is a major fundraiser for Trump's campaign through the "Rebuilding America Now" Super PAC.[15][16] He spoke at the 2016 Republican National Convention.[17] He was also rumored to be considered for Treasury Secretary in the Trump administration.
Personal life
Barrack is married, and he has four children.[13] They reside in Los Angeles, California.[13] He also owns a 1,200-acre mountain ranch near Santa Barbara, California.[4][8] He spends summers in a castle in the South of France.[4] He is Roman Catholic.[18]
References
- ^ http://www.nytimes.com/2011/04/06/business/global/06equity.html
- ^ "Colony Capital, Inc - Contact". www.colonyinc.com. Retrieved 2015-08-26.
- ^ a b c d e "Colony Capital biography". Colonyinc.com. Retrieved 2012-03-06.
- ^ a b c d e f g h Shawn Tully, 'I'm Tom Barrack and I'm getting out', on CNN, October 31, 2005
- ^ a b "CNBC Global Players". Globalplayers.tv. Retrieved 2012-03-06.
- ^ a b c d "Arab Bankers Association of North America". Arabbankers.org. 2012-11-20. Retrieved 2012-03-06.
- ^ Benjamin Wallace, 'Monetizing the Celebrity Meltdown', in New York Magazine, Nov 28, 2010
- ^ a b c d e f "Forbes profile". Forbes.com. Retrieved 2012-03-06.
- ^ "California Bar". Members.calbar.ca.gov. 1972-12-14. Retrieved 2012-03-06.
- ^ "Board of Trustees". University of Southern California. Retrieved May 10, 2016.
- ^ "Accor Board of Directors". Accor.com. Retrieved 2012-03-06.
- ^ "First Republic Bank Board of Directors". Firstrepublic.com. 2010-01-01. Retrieved 2012-03-06.
- ^ a b c "Thomas Barrack: 2014 Billionaires List: Dropoff". Forbes. Retrieved July 22, 2016.
- ^ Ensign, Rachel Louise; Karmin, Craig; Benoit, David (March 5, 2016). "Donald Trump's Three Friends in Finance". The Wall Street Journal. Retrieved May 10, 2016.
- ^ Swan, Jonathan (15 May 2016). "Where Republican donors stand on Donald Trump". The Hill. Retrieved 15 May 2016.
- ^ Beckel, Michael (July 19, 2016). "Trump's new super PAC attack dog". Center for Public Integrity. Retrieved July 21, 2016.
- ^ Tim Tebow: Speaking slot at Trump convention 'a rumor', Associated Press (July 14, 2016).
- ^ "New Parishioners" (PDF). St. Maximilian Kolbe Catholic Church. Retrieved 2012-03-06.